West Florida Electric Cooperative Asso Inc
501(c)(12)
93% goes to programs Strong reserves Growing revenue
West Florida Electric Cooperative Asso Inc is a 501(c)(12) organization based in Graceville, Florida, registered in 1943, with $78,470,807 in FY2024 revenue. CharityIndex grades it A+, and it directs about 93% of spending to programs.
Po Box 127, Graceville, FL, 32440 EIN 59-0504115 Since 1943
Revenue (FY2024)
$78.5M
▲ 6.2% vs prior year
Expenses (FY2024)
$74.6M
Net assets
$95.9M
Employees
109
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A+
A+Program efficiency40% of the rating93% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For West Florida Electric Cooperative Asso Inc: 93% to programs earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating15 mo reserves · +5% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For West Florida Electric Cooperative Asso Inc: 15 mo reserves · +5% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For West Florida Electric Cooperative Asso Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For West Florida Electric Cooperative Asso Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
West florida electric cooperative association, inc. is in business to provide its members with a reliable source of electricity and other related, self-sustaining services at the lowest possible cost consistent with its external financial obligations and sound management practices.
Contact & location
- Address
- Po Box 127, Graceville, FL, 32440
- City
- Graceville
- State
- Florida
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $57.9M (FY2013) to $78.5M (FY2024) across 11 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $78.0MNet assets $95.9M
Operating margin
5.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$174.0M
Total liabilities
$78.0M
Net assets
$95.9M
Salaries & benefits
$3.9M
5% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $78,470,807▲6.2% | $74,570,872▲5.0% | $95,945,594▲6.1% | $173,963,650▲1.8% | 990 |
| 2023 | $73,858,381▲1.6% | $71,025,749▲7.0% | $90,459,876▲3.1% | $170,906,277▲2.2% | 990 |
| 2022 | $72,691,010▲13.5% | $66,380,058▲12.5% | $87,722,343▲7.6% | $167,263,194▲1.7% | 990 |
| 2021 | $64,056,820▲3.0% | $58,988,697▲3.1% | $81,504,062▲6.4% | $164,513,750▼7.8% | 990 |
| 2020 | $62,175,613▼9.0% | $57,224,713▼1.9% | $76,615,087▲6.8% | $178,514,387▲0.7% | 990 |
| 2019 | $68,319,785▲15.5% | $58,358,336▼6.6% | $71,732,978▲15.5% | $177,258,723▼7.9% | 990 |
| 2018 | $59,162,046▼0.1% | $62,462,751▲9.9% | $62,089,313▼5.4% | $192,503,426▲54.8% | 990 |
| 2017 | $59,202,309▼0.7% | $56,856,595▲0.5% | $65,599,315▲3.1% | $124,384,442▲3.0% | 990 |
| 2016 | $59,645,900▼2.8% | $56,571,996▼3.0% | $63,599,109▲5.2% | $120,758,814▲1.8% | 990 |
| 2015 | $61,350,342▲6.0% | $58,316,500▲4.0% | $60,439,043▲10.6% | $118,600,618▲4.8% | 990 |
| 2013 | $57,890,339 | $56,082,332▲0.7% | $54,649,760▲3.6% | $113,161,349▲1.8% | 990 |
| 2012 | — | $55,712,311▼2.4% | $52,743,796▲3.6% | $111,154,320▲3.7% | 990 |
| 2011 | — | $57,079,434▼2.3% | $50,911,358▲8.2% | $107,164,701▲4.7% | 990 |
| 2010 | — | $58,424,562 | $47,036,746 | $102,334,020 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Shawn Walling — $227,049 (0.30% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Shawn Walling | Former Executive Vp & Ceo | 40 | $227,049 |
| Keith Varnum | Manager - Engineering | 40 | $223,079 |
| Wayne Williams | Interim Executive Vp & Ceo | 40 | $156,130 |
| James Efurd | Chief Information Officer | 40 | $150,494 |
| Jonathan Love | Key Employee | 40 | $148,173 |
| Penny Bryan | Vp of Administration | 40 | $142,795 |
| Wesley Duboise | Key Employee | 40 | $139,600 |
| Luke Gates | Key Employee | 40 | $134,264 |
| Donnie Worley | Safety Manager | 40 | $131,256 |
| Jamie Alday | Key Employee | 40 | $126,635 |
| Kevin Nelson | Key Employee | 40 | $125,347 |
| Kaleb Frost | Key Employee | 40 | $115,051 |
| Marie Ashworth | Cfo | 40 | $105,236 |
| John W Adams | Director | 2 | $20,600 |
| George Owens | Director | 2 | $19,200 |
| Tim Alford | President | 2 | $18,850 |
| Randy Bush | Director | 2 | $18,150 |
| David Tatum | Director | 2 | $17,800 |
| Myron Hudson | Secretary-treasurer | 2 | $17,800 |
| Jackie Pooser | Director | 2 | $16,400 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Asplundh Tree Expert Co | Right of Way Services | $3,057,250 |
| Lee Electrical Construction LLC | Construction | $1,045,635 |
| Meridian Cooperative | Utility Technology Company | $923,077 |
| Stuart C Irby Co LLC | Utility Technology Company | $532,749 |
| Dcmc LLC | Consulting Services | $181,802 |
Frequently asked questions
- Is West Florida Electric Cooperative Asso Inc a legitimate nonprofit?
- Yes. West Florida Electric Cooperative Asso Inc is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 59-0504115, based in Graceville, Florida.
- What is West Florida Electric Cooperative Asso Inc's EIN?
- West Florida Electric Cooperative Asso Inc's Employer Identification Number (EIN) is 59-0504115.
- How much revenue does West Florida Electric Cooperative Asso Inc report?
- West Florida Electric Cooperative Asso Inc reported $78,470,807 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of West Florida Electric Cooperative Asso Inc's spending goes to programs?
- West Florida Electric Cooperative Asso Inc spends about 93% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does West Florida Electric Cooperative Asso Inc have?
- CharityIndex grades West Florida Electric Cooperative Asso Inc A+, based on program efficiency and fundraising cost.
- How much does West Florida Electric Cooperative Asso Inc's highest-paid employee make?
- The highest reported compensation on West Florida Electric Cooperative Asso Inc's latest Form 990 is $227,049, paid to Shawn Walling (Former Executive Vp & Ceo).
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Explore more
Data for West Florida Electric Cooperative Asso Inc (EIN 59-0504115) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.